Sir Christopher Hohn’s activist hedge fund TCI has opened an office in Abu Dhabi, joining a wave of groups betting that the United Arab Emirates will help power the industry’s growth.
The fund, which manages $60bn, said it will use the office to forge ties with local investors and expand its assets under management. Bronwyn Owen, the group’s head of investors relations, is relocating from New York to run the office.
The UAE has in recent years become a hedge fund hotspot, drawing the likes of Izzy Englander’s Millennium, Steve Cohen’s Point 72, quant investing firm AQR and macro fund Brevan Howard.
Industry executives say that having an office in the region has become increasingly important to winning local business and building ties with major sovereign wealth funds.
“The Middle East is a vital market for the investment management industry, both from a talent and asset growth perspective, as well as a critical partner in global efforts to reduce carbon emissions and climate change,” Hohn said on Thursday.
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